Calycé Sun, a leading player in agrivoltaics in France, welcomes new shareholders to support its growth
Paris, February 18, 2025 – Calycé Sun, a French company based in Reims and Toulouse specializing in the development, construction, and operation of agrivoltaic projects, announces the entry of RIVE Private Investment and Nord Est Partenaires into its capital alongside its Founders and WATTS.green.
Founded in 2011 by three farmers deeply integrated in the agricultural communities of Reims, the company expanded to Toulouse in 2022 with the support of WATTS.green, specialized in value creating investments in renewable energies. Calycé Sun has established itself as a pioneer in the field of agrivoltaics in France. The company develops projects that combine agricultural production with solar energy, providing concrete benefits to local farmers: securing crop sustainability, optimizing conditions for livestock farming (sheep, cattle, or goats), and generating long-term additional income. Thanks to its unique agricultural expertise and close collaboration with local stakeholders, the company plays a key role in France’s energy and agricultural transition.
Operating in a rapidly expanding agrivoltaic market, driven by a strong need for energy sovereignty and favourable regulations, Calycé Sun has already secured a portfolio exceeding 855 MW and aims for an operational capacity of 450 MW by 2030. This transaction strengthens its position in a high-growth market while leveraging the resources and expertise of its new co-shareholders to accelerate deployment, optimize project value, and take a more active role in operating the facilities.
This investment round brings together RIVE Private Investment, a European investment firm specializing in energy transition and transportation assets; WATTS.green, a Belgian asset management firm dedicated to renewable energy; Nord Est Partenaires, a key regional equity investor in businesses across French departments of Aisne, Ardennes, and Marne; and the Founders, ensuring strong strategic alignment and complementary expertise:
• RIVE Private Investment and WATTS.green will leverage their experience in corporate structuring and governance, as well as their technical expertise in energy infrastructure management.
• The Founders, actively involved in the transaction and remaining at their current positions, will ensure continuity in agricultural expertise.
• Nord Est Partenaires, a major local player, will support the regional and agricultural integration of projects.
Éric Boban, Chairman of Calycé Sun and Farmer:
“It is a great source of pride for the Founders to be joined by investors such as RIVE Private Investment, WATTS.green, and Nord Est Partenaires, who understand and support hands-on companies committed to the energy transition. At Calycé Sun, we develop high-quality agrivoltaic projects in partnership with farmers, ensuring respect for local territories. With our new co-shareholders, we will be able to expand our expertise in renewable energy production.”
Pierre du Passage, Partner at RIVE Private Investment:
“This strategic partnership with Calycé Sun illustrates RIVE’s vision of an energy transition with a strong local footprint. By supporting a key player in agrivoltaics, we are strengthening our commitment to developing sustainable projects that meet energy needs while enhancing value of agricultural territories. This investment is in line with the strategy of RIVE Infrastructure Impact Fund which seeks to make equity investments in SMEs involved in energy transition to accelerate the deployment of green energy production infrastructures and the decarbonization of the European energy mix”,
Hervé van den Abeele, Partner at WATTS.green:
“We are delighted to have brought together an investment round with RIVE Private Investment and Nord Est Partenaires around such an outstanding project as Calycé Sun, which we joined in 2022. Beyond recognizing the work accomplished and the relevance of the company’s business plan, the combination of the Founders and WATTS.green with the new shareholders—an effort WATTS.green has worked on for many months—brings together essential expertise for Calycé Sun’s growth: agricultural expertise, technical expertise in renewable energy, and managerial and governance expertise.”
Paul-Antoine Grasset, Investment Director at Nord Est Partenaires:
“We are very pleased to support the growth of Calycé Sun in order to continue developing high-quality agrivoltaic projects. We are thankful to the Founders and their teams for their trust. This transaction illustrates Crédit Agricole’s deep-rooted commitment to supporting businesses in our region and advancing the energy and agricultural transition.
About RIVE Private Investment
RIVE Private Investment is an independent European investment firm specialized in transportation assets and energy transition. Founded in 2013, RIVE currently manages over €1 billion of assets and has completed more than 100 transactions. The RIVE team consists of 28 professionals based in Paris, Luxembourg, and Geneva.
Through its Energy Transition business line, RIVE invests across the entire energy value chain: renewable energies, green gas, sustainable thermal energy, energy efficiency, energy storage, and mobility infrastructure. RIVE’s positioning reflects a concrete commitment to mitigating climate change and a desire to have a positive impact on local communities. Through its Energy Transition business unit, RIVE receives support from the European Union via the InvestEU fund.
About WATTS.green
Established in March 2022, WATTS.green Investments, based in Brussels, is an independent private assets manager, fully owned by its management. WATTS.Green’s distinctive approach sets it apart in renewable energy investing, as it addresses crucial funding gaps, pioneers new project frameworks, and optimises existing projects to accelerate the energy transition. These features underline WATTS. green’s added value, differentiating it from other infrastructure funds and emphasising its commitment to genuine environmental and societal impact. WAATS.Green receives support from the European Union via the InvestEU fund.
About Nord Est Partenaires
Since 1991, Nord Est Partenaires has been a leading regional player in equity and quasi-equity investments in businesses across the French departments of Aisne, Ardennes, and Marne. Founded as part of Crédit Agricole du Nord Est’s commitment to support local companies, Nord Est Partenaires’ mission is to foster the growth of businesses that support the local economy. The firm employs a tailored approach to financing, assisting companies at every stage of their growth:
• Early-stage companies accelerating their commercial development,
• Growth capital for organic and external expansion, financing new production sites, and international development,
• Buyout capital for ownership transitions, shareholder restructuring, and LBOs.
Provided by its sole shareholder with no investment horizon constraints, the funds managed by Nord Est Partenaires total €450 million. In the energy transition sector, Nord Est Partenaires supports renewable energy businesses and projects through a dedicated €100 million allocation.
Press contacts:
Frédéric Paillet – f.paillet@bcadvisory.fr – +33 1 43 35 49 84
Victoria Wojtczak – v.wojtczak@bcadvisory.fr – +33 6 79 75 01 66
Vincent Le Hodey – vincent@watts.green – +44 7855 513 123
Hervé Van den Abeele – herve@watts.green – +32 478 49 11 77
Paul-Antoine Grasset – paul-antoine.grasset@ca-nord-est.fr – +33 6 33 96 22 36
Eric Boban – eric@calyce.dev – +33 6 86 55 80 45